Yes Bank eyes acquisitions for expansion goals

Yes Bank is open to acquisitions in banking, broking and asset management businesses.

This was announced by its founder and CEO Rana Kapoor, who revealed that the bank has received RBI's approval to set up a retail broking business.

"We are in the process of establishing the subsidiary and building an organic business, primarily to complement our savings account offering to our retail customers. We will largely depend on the powerful ongoing retail customer acquisition of the Bank to leverage our broking business," Kapoor said.

Kapoor revealed that Yes Bank now has a very strong top and senior management to execute organic and inorganic opportunities.

The banks targets 12,750 employees, 2,000 ATMs, 900 branches, deposit base of Rs 1,25,000 crore, advances of Rs 1,00,000 crore and balance sheet size of Rs 1,50,000 crore.

"As our branch network expands, retail lending products are being offered from the branches which include acomplete suite of products (auto loans, gold loans, home loans and credit cards),"said Kapoor.

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